Hysteria,

You are right ...Dow chart looks horrendous with no support found at any level. You would think that there would be at least some bounce today with interest rate reductions, but we are selling regardless of news. This is a bear market of proportions I have not seen. Most of my relatives and friends who seldom pay attention are now looking at their 401 K statements and are panicking and selling mutual funds. Cramer did a huge injustice the other day by telling people to sell. Many people actually think he knows what he is talking about.

McAlvaney said today that there is a $400 billion dollar CDS settlement due Friday from LEH collapse. I can only wonder who must be holding that paper. Banks continue to freefall(look at BAC and C) without shortsellers. Go figure. Somebody knows something and it must not be good. This market is even making Warren Buffet look foolish in the short term.

Gold needs to hold $900 for a couple of days and the HUI needs to hold 280 for a couple of days. If that holds, I will be adding to positions. The leadership must come from the leaders before and it looks like it is happening with GG, AEM, ABX, KGC having some pretty good gains today.

Here's to holding $900 !!!!!!!!!!!!! Cheers!

SilverNut